"Generally, when a particular level is tested repeatedly, it either gets violated with a gap or becomes a turning point. In our sense, we may see Nifty50 going beyond 10,650 quite soon and then head towards 10,700-10,750 levels. Having said that traders should wait for this development to happen and then accordingly plan their strategy," said Sameet Chavan of Angel Broking.

On the downside, YES Bank fell 4.78 per cent to Rs 196.15. Former SBI chairman OP Bhatt has resigned from the panel set up by YES Bank to find a successor to its MD and CEO Rana Kapoor, the private sector bank said Thursday.

ONGC declined 2.74 per cent to Rs 154.56 as reports emerged that the government was considering a plan to sell shares worth $2 billion in Oil and Natural Gas Corp (ONGC), IndianOil (down 3 epr cent) and Oil India (down 3.2 per cent) to help meet this year’s divestment target.

Shares of Adani Ports, Infosys and Tata Steel fell up to 0.80 per cent.

Earlier in the day, Asian share markets gained on hopes for a thaw in Sino-US trade relations gave Wall Street a fillip, though there were duelling reports on the prospects for an actual agreement, Reuters reported. MSCI's broadest index of Asia-Pacific shares outside Japan was ahead 0.26 per cent in early trade, while Japan's Nikkei index added 0.2 per cent.